Abstract
The adoption of information technology (IT) enabled innovation has been researched in Western countries, yet
the same understanding has often been overlooked in developing countries. This research aims to offer new insights into the
adoption of IT by exploring and comparing the characteristics of internet and mobile banking in Australia and India, which
led to improved IT enablement of banks in these two countries. We explore the use of institutional theory (DiMaggio and
Powell 1983; Tolbert and Zucker, 1996) to explore if the same theory can be applied across a similar industry, i.e. banking in
two socially different settings. The findings indicate that Tolbert and Zucker’s three staged Process of Institutionalization
does apply to both Australian and Indian banking industry in terms of early adopters, followers and laggards. Though we
also find that socio-economic impacts on society such as growing affluent populations and technology affordability appear to
be non-conformists to the process.
Key words - Developing & developed countries, innovation adoption, institutional theory